The annual ranking highlights the top 100 global providers of financial technology
San Francisco, CA, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Today Fundbox, the B2B payments and credit network designed to facilitate and accelerate B2B commerce at scale, announced that the company ranked #92 on the 2019 IDC FinTech Rankings.
The 16th annual vendor ranking represents the leading hardware, software and service providers to the financial services industry from around the world. Vendors are ranked based on 2018 calendar year revenues attributed to financial institutions. This is the first year that Fundbox has appeared on the prestigious list. To view the list in its entirety, please visit HERE.
“We are honored that Fundbox made the IDC Fintech Rankings for 2019,” said Leslie Olsen, Chief Marketing Officer for Fundbox. “Making this list further validates that we’re helping our B2B and SMB customers grow by optimizing the way their business funds should flow. We hope that by meeting our 2020 goals, Fundbox will make this list again for the second year in a row.”
The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on the calendar year revenues from financial institutions for hardware, software and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC Financial Insights forecasts worldwide spending on IT across the globe to exceed $540 billion (USD) by 2022.
To thrive in a digital economy, financial services organizations must embrace and integrate innovative cutting edge technology effectively to enhance the customer experience and achieve operational excellence. ABC Company and the vendors featured on the IDC FinTech Rankings represent those providers committed to helping financial institutions successfully execute their digital transformation initiatives for the betterment of their customers around the world. IDC Financial Insights publishes a comprehensive report about the year's findings that is available to view or download HERE.
Unlocking the Net Terms Economy
According to a recent Fundbox research study developed in partnership with PYMNTs, there is an unprecedented $3.1 trillion owed to U.S. firms today, locked up in accounts receivables “limbo.” Fundbox calls this massive out-of-reach pool of capital the “Net Terms Economy.” By unlocking this capital with faster payment technologies, there is an opportunity to transform millions of businesses that provide or rely on open credit terms to complete a business transaction.
This is why Fundbox has built the first two-sided payments and credit network designed specifically to accelerate B2B commerce. With automated machine-learning risk decisions, faster payments to sellers, and more flexible payment terms to the buyer, sellers can focus on increasing average order volumes (AOV) while buyers have greater purchasing confidence and repayment flexibility.
For more information about the rankings, visit HERE and follow on Twitter @IDC and look for #IDCFinTechRankings.
Fundbox is a leading financial technology company focused on disrupting the $21 trillion B2B commerce market by launching the world’s first B2B payments and credit network. With Fundbox, sellers (of all sizes) can quickly increase average order volumes (AOV) and improve close rates by offering more competitive net terms and payment plans to their SMB buyers. With heavy investments in machine learning and the ability to quickly analyze transactional data, Fundbox is reimagining B2B payments and credit products in new category-defining ways.
Fundbox has received numerous awards for Fintech innovation including the prestigious Forbes Fintech 50, Forbes AI 50, Forbes Billion Dollar Startup To Watch, Red Herring Top North American 250, CB Insights Fintech 250, Fintech Breakthrough Awards for Best B2B Payments Platform and, the Atlas Award for Best Israeli Startup, among others. For more information about Fundbox, visit fundbox.com.
About IDC Financial Insights
IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investment industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology.